GOP attorneys general call on credit card companies to drop plans for gun store code

GOP attorneys general call on credit card companies to drop plans for gun store code


Fire arms are seen at the Bobâs Little Sport Gun Shop in the town of Glassboro, New Jersey, United States on May 26, 2022. 

Tayfun Coskun | Anadolu Agency | Getty Images

Two dozen Republican attorneys general are urging Visa, MasterCard, and American Express to drop their plans to adopt a new merchant category code for gun retailers, saying the move would infringe on consumers’ privacy.

In a letter sent to the companies Tuesday, the attorneys general warn the credit card companies that they could face legal action if they move forward with the code adopted by the International Organization for Standardization.

“Categorizing the constitutionally protected right to purchase firearms unfairly singles out law-abiding merchants and consumers alike,” said the letter, led by Tennessee Attorney General Jonathan Skrmetti and Montana Attorney General Austin Knudsen.

“Be advised that we will marshal the full scope of our lawful authority to protect our citizens and consumers from unlawful attempts to undermine their constitutional rights,” says the letter, which was first reported by The Wall Street Journal.

Visa, MasterCard and American Express did not immediately respond to requests for comment.

On Saturday, Senate Republicans sent a similar letter to the three credit card companies. The letter said the companies are “bowing to international and activist pressure,” and that the codes are “the first step towards backdoor gun control on law abiding Americans.”

The letters come after the credit card companies announced plans to start applying the new sales code to transactions made at gun stores. Gun law advocates have said such a code is a critical first step toward giving banks and credit card companies the tools they need to recognize dangerous firearm purchasing trends — such as a domestic extremist building up an arsenal — and report them to law enforcement.

A merchant category code indicates the types of services or goods sold to consumers. Previously, gun store sales were categorized as “general merchandise.”

Visa, MasterCard and American Express have previously said the new codes won’t inhibit legal commerce.

“A fundamental principle for Visa is protecting all legal commerce throughout our network and around the world and upholding the privacy of cardholders who choose to use Visa,” Visa said in a statement last week. “That has always been our commitment, and it will not change with ISO’s decision.”



Source

Bank of America is set to report fourth-quarter earnings – here’s what to expect
Business

Bank of America is set to report fourth-quarter earnings – here’s what to expect

Brian Moynihan, Chairman and CEO of Bank of America, speaks with Economic Club of Washington Chair David Rubenstein at an event at the Ritz-Carlton on February 25, 2025 in Washington, DC. Anna Moneymaker | Getty Images Bank of America is scheduled to report fourth-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects: […]

Read More
BNY raises profit target as CEO Robin Vince says ‘turnaround’ is taking hold
Business

BNY raises profit target as CEO Robin Vince says ‘turnaround’ is taking hold

Robin Vince President & CEO BNY Mellon, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBC BNY, which calls itself the world’s largest custody bank, is raising a pair of key performance targets as CEO Robin Vince says a turnaround that began when he […]

Read More
Data center REIT CEO says real estate ‘not in an oversupply state’
Business

Data center REIT CEO says real estate ‘not in an oversupply state’

A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox. As hyperscalers like […]

Read More